KARACHI: The Directorate of Customs Post Clearance Audit has detected duties and tax evasion of Rs 11.25 million by M/s Shahid Mokeem and Company, it is learnt.
Sources told Customs Today that M/s Shahid Mokeem and Company imported a consignment of commercial molding machines and its parts, and got it cleared from the Port Qasim vide GDs on August 22, 2017 by paying customs duty at 12 percent after claiming the benefit of the SRO 572/2007.
However, the subject items were correctly classifiable under the PCT 2489.2408 attracting customs duty at 16 percent and income tax at 8 percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs 11.25 million. The goods were cleared by Examiner Tajuddin Usmani.
Sources told that the importer violated the provisions of Section 56 & (9A) of the Customs Act-1969, Section 25 read with Section 66 of the Sales Tax Act-1990 and Section 12 of Income Tax Ordinance 2001 punishable under clauses (452) and 125 of Section 325(7) of the Customs Act-1969, Section 92 of the Sales Tax Act-1990 and Section 45 & 189 of Income Tax Ordinance 2001 and Section 9-A of the Sales Tax Act-1990 read with chapter X of the Sales Tax Special Procedure Rules 2007 (Special procedures for payment of sales tax by the importers) and under relevant provisions of Income Tax Ordinance 2001.
